The Senate on Wednesday urged the Central Bank of Nigeria (CBN) to recover N30 billion import waiver granted to rice importers.
Senate President, Dr Bukola Saraki, made the call while receiving CBN Governor, Mr Godwin Emefiele, in Abuja.
Saraki said such waivers were responsible for the inability of the nation’s rice industry to progress.
“It has been brought to our notice that more than N30 billion was given to certain companies as waivers on duties, especially on rice.
“This money must be repaid to the Federal Government,” he said.
He said the Senate would support the bank and its policies to revitalise the nation’s economy.
The CBN governor had earlier said that rice farmers in the country would be bankrupt as Nigerians preferred imported rice.
“As we speak today, hundreds of metric tonnes of locally produced rice litter Nigerian markets.
“Rice farmers are in poverty due to our preference for imported rice although local rice are now about the same package with better quality.
“We, therefore, seize this opportunity to appeal to our rice importers to support local farmers by patronising home grown rice.
“It is now time for us to work together to resuscitate our moribund industries by growing and consuming locally produced rice.”
The CBN governor, in his response, said the bank would help to conserve foreign reserves, achieve a stable exchange rate that would create jobs and enhance economic growth.
